Kenyan central bank concerned by proposed interest rate caps
Central bank warns of “adverse consequences”, including problems for monetary policy transmission
The Central Bank of Kenya has expressed "concern" at draft legislation passed by the lower house of the country's parliament last week. The Banking (Amendment) Bill, 2015, seeks to impose limits on the lending rates banks can charge and interest they can pay depositors.
It was submitted to the National Assembly for a third reading on July 28. Later in the day, the central bank issued a statement saying it had "received informal notification through the media" the bill had been passed. It still
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